Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-09-24
WASHINGTON.
THE FINANCIAL OUTLOOK REGARDED
AS MUCH BRIGHTER.
Treasury officials Satisfied with the
Status Of Afairs-Danger Of o Money
Panic Averted.
rBr telegraph to The pi.patch.l

WASHINGTON, September 23.-The
Treasury officials note with satisfaction
the reception by the financial world of
yesterdays circular. 1t is especially
gratifying TO them to learn that the
public is willing to part with 4 per
cent. bonds at the price offered by the
department. Before noon to-day Acting
Secretary Thompson received offers to
sell bonds-the majority of them 4 per
cents to the amount of sl,000,00o.
In addition to this, offers made by
local banks on their own account and
acting as agents for out-of-tOwn firms
have been received at the public moneys
division Of the department to an
amount not at present ascertainable.
Altogether the outlook is regarded at
the department as much brighter, aud
the belief is freely expressed that the
danger of n money panic has been
ayerted-at least for the presently
the last action OF Actng-Secretary
Thompson. Other encouraging fea-
lures, they say, are found in the daily
statement OF the Governments receipts
aud expenditures. They show that
since the middle OF the month about
two and half millions have been dis
bursed on account OF pensions. The
apparent surplus for the month is thus
left at fourteen and half million dol
lars, but none Of the bond purchases
are taken into account in the daily
statement, and if deductions are made
on this account and for prepayment Of
interest, the real surplus receipts for so
much OF the month of September as
las expired Will be reduced to some
thing like five million dollars.
The aggregate amount of bonds pur-
chased by the Treasury Department
to-day under the terms of circular OF
yesterday was 1885, $50, of which
sl,o14,000 were 4 per cent. and
:7J1, $50 II per cent bonds. Of
the total 1922, 700 was offered and
purchased after o'clock. Applications
tor the prepayment of interest on
$3.50, COO registered bonds were received
st the Treasury to-day, making the
total to date sos, SO, $50.
Secretary Fairchild returned to
Washington from StockDyige. Mass,
late last night lie called early at the
White Rouse and had long talk with
the President about matters OF the day.
Later ne went over to the Treasury, and
after consultation with Acting-Secre-
tsry Thompson returned to his Office
to look after his mail and other per-
sonal matters. He Will remain in the
city but day or two. and will not du-
ring his stay assume the formal duties
Of his Office When seen by an AssO-
ciated Press reporter this afternoon the
Secretary looked the picture of good
pcalth aud did not appear to feel very
aDxious respecting the financial situa-
'ion. He said that he found the business
Of the department in good shape upon
lis return. All that had been done
relative TO bond purchases met with his
approval, and he had been fully advised
II advance of the intention to issue the
cst circular. Whether measures
accepted by the department to meet the
emergency in the financial world would
be offcctual could only be told from
subsequent events. When asked il he
expected that all of the $l4, 900, 600 SCI
apart for the purchase of bonds would
be paid ont before the expiration Of
the time fixed in the circular the Score
tary replied that he could not venture
an opinion.
Secretary Fairchild intends to 90
over to New York in a day or two to
witness the international yacht races.
lie expects to return to Washington by
the end Of next week and will remain
here during the Presidents absence on
his western and southern trip.